Jan 19 What is My Money Mindset?

Money is just a tool. It is neither good or bad. It's value comes from how it is used.

BUT...depending on how you grew up, you may not think of money that way. Money may be a source of fear. Money may be a source of strength. Money may conjure up good or bad memories. Our ideas about money are formulated at points in our lives when we may be too young to even comprehend it. This is called internal conditioning. As children, we are highly influenced by the things around us and without truly realizing it, we've been conditioned to see money in a certain way. This is our money mindset.

Let's take a step back. Think about something you wanted as a child and asking your parents for it. What happened? What kind of words were used? Did you get what you wanted? Why not? Do you find yourself using similar keywords today?

Here are some common money mindsets that we need to move away from:

I'm just not good with numbers.

I don't make enough to care about wealth.

If I work hard and keep my head down, I'll get recognized.

I don't want to be a spoiled, rich person.

I'm never going to afford that so why even bother.

I will never make as much money as her.

As with everything else, breaking out of old money mindsets is the key to growth. Recognize what needs to change. Financial Independence requires that we put on a mindset that is different from the norm.

Catherine or Cat is a writer/blogger focused on educating people on how consumption affects their bottom line through the tenets of minimalism, sustainability and personal finance. Find her at www.thedosomethingproject.com and www.sistersforfi.com

Catherine or Cat is a writer/blogger focused on educating people on how consumption affects their bottom line through the tenets of minimalism, sustainability and personal finance. Find her at www.thedosomethingproject.com and www.sistersforfi.com

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Sisters for Financial Independence is an educational resource for those looking to gain financial independence. The information presented here does not consider the economic status or risk profile of any specific person. The information and opinions expressed should not be construed as investment/trading advice and does not constitute an offer, or an invitation to make an offer, to buy and sell securities.